Hong Kong's Financial Services and Treasury Minister Christopher Hui announced their intention to establish a virtual asset business center.
Christopher Hui said, in an interview with Bloomberg: “The shift in Hong Kong's policy has generated a tremendous response, as more than 80 institutions and entities have inquired about the planned development in the city, especially since 10% of the city’s financial technology companies are 800 companies focus on virtual assets.
The minister explained that Hong Kong is one of the world leaders in terms of having comprehensive regulatory measures for virtual assets, as well as crypto itself, citing the values of remittances, financial stability and investor protections in the crypto policy put in place.
In October, Hong Kong set a vision to become a global center for digital currencies, and seeks to attract investment and restore its position as an advanced financial center.
Okaz (Hong Kong) @okaz_online